THOUGH the current economic environment in the UK is still proving challenging to some, HSBC has continued to offer lending support to strong, viable enterprises that can demonstrate well-defined management in conjunction with a considered forward- thinking business plan.
Throughout 2011, we have provided many businesses in our area with funding to expand their current business reach, targeting new markets and customers.
And looking to the year ahead, the key for businesses will be to continue to demonstrate considerable planning and a strong strategy to capitalise on future growth opportunities.
With competition fierce, HSBC understands that creating a strong, distinct business plan and a unique product offer can be a difficult task.
But this area is home to a large number of energetic and diverse businesses that are already taking advantage of business growth opportunities on offer both in the area and overseas.
I’ve been proud to see businesses in the area tackle the challenging economic environment head on – developing new ideas, products and partners, targeting new markets to spread their business risk, and positioning themselves to cope with the difficult market outlook.
It’s interesting to note that whilst the domestic economy remains challenging, we have seen a dramatic rise in the number of businesses trading overseas, and we have supported many companies to expand their outreach internationally.
And, as the line between "domestic" and "international" business blurs, even those that consider themselves to be trading on a purely domestic level, often still have an international element.
When thinking about the year ahead, businesses should use all the tools at their disposal – whether it’s talking to UKTI when thinking about international trade or utilising the expertise on offer at their bank to develop a compelling business case. My team of relationship managers are well equipped to work with customers to understand their business model and identify its strengths and potential for the future.
We’d encourage anyone interested in seeking funding for new expansion projects, whether at home or overseas, to come and talk to us whilst their plans are in development.